Wells Fargo & Company (NYSE:WFC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Wells Fargo & Company (NYSE:WFC) has received a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $89.5667.

A number of equities research analysts have recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, Evercore ISI upped their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at about $27,000. Finally, Marquette Asset Management LLC lifted its position in Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 274 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.5%

Wells Fargo & Company stock opened at $85.09 on Wednesday. The company has a market cap of $267.09 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.18 and a beta of 1.22. The firm has a 50-day moving average of $84.14 and a 200-day moving average of $80.51. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.64.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. Wells Fargo & Company’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.